1. That guy was peeling-out on the trim press.
2. The V-dub is a peelout-mobile!
3. That is one peelout automobile.
4. Peelout! That guy just did a donut on cobblestone!
5. Peelout, what should we eat?

Or, in combination:
Peelout! That peelout-mobile is peeling-out on that peelout road!